Sayer Energy Advisors has been engaged to assist Blackspur Oil Corp. (“Blackspur” or the “Company”) with the sale or farm-out of its oil properties located in the Drumheller and Cessford areas of Alberta (the “Properties”).

At Drumheller, Blackspur holds 50-100% working interests in over 2.75 sections of land on which it has a 100% working interest in one well producing approximately 29 boe/d, consisting of 16 barrels of oil per day and 80 Mcf/d of natural gas from the Ellerslie Formation.

At Cessford, Blackspur holds a 50-100% working interest in 15 sections of land which are prospective for oil in the Ellerslie, Glauconitic Sandstone and Banff Formations.

As of January 7, 2017, Blackspur’s wells at Drumheller and Cessford collectively have a deemed net asset value of $1,315,733 (deemed assets of $1,433,048 and deemed liabilities of $117,315), with an LMR ratio of 12.21.

InSite Petroleum Consultants Ltd. estimates that, as of December 31, 2015, the Drumheller property contained remaining proved plus probable reserves of 414,000 barrels of oil and natural gas liquids and 986 MMcf of natural gas (579,000 boe), with an estimated net present value of $3.6 million using forecast pricing at a 10% discount.

Summary information relating to this divestiture is attached to this correspondence. More specific information is available at www.sayeradvisors.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).

Proposals relating to this divestiture will be accepted until 12:00 pm on Thursday, March 9, 2017.